Douglas Durst Of The Durst Organization Secures $250M Loan For 1155 6th Avenue In Manhattan

The property asset involved in this context is an office building located at 1155 6th Avenue in Manhattan, encompassing a total square footage of 797,891. The property is currently 88.9% leased. The financing secured for this asset amounts to $250,000,000.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $250,000,000
• Address: 1155 6th Avenue
• Market: Manhattan
• Lender: Wells Fargo & J.P. Morgan Chase
• Landlord: Douglas Durst - The Durst Organization
• Note: Proceeds will go to retire $146M in debt and fund reserves.

The deal features key players such as Douglas Durst, representing The Durst Organization as the landlord. The financing is provided by two major lenders, Wells Fargo and J.P. Morgan Chase, indicating a significant investment in this Manhattan office asset.